History Of Fuel Price Increases In Nigeria

Nigeria, an Oil exporting country, located in West Africa is one of the biggest oil producing and exporting state in the world, popularly called the gaint of Africa, not just because of its population but also for its economy and the availability of Oil, which had made the country one of the richest in the whole of Africa.

Right from the regime of Gen. Yakubu Gowon, who reigned from year 1966-1975 as a Military ruler, Nigerian has been experiencing increases in fuel price, which as always lead to scarcity, price hike, theft e.t.c despite Nigeria being an Oil producing and exporting country.

Well inorder not to add to the pain already made on we the citizens of Nigeria by the increases in fuel price, which the country has always been hitted with, below are a list of the prices of fuel under each leader who had rule over Nigeria from the Military regimes to Democracy.

Gowon 1973: 6k to 8.45k (40.8%)

Murtala 1976: 8.45k to 9k (0.59%)

Obasanjo October 1, 1978: 9k to 15.3k (70%)

Shagari April 20, 1982: 15.3k to 20k (30.71%)

Babangida March 31, 1986: 20k to 39.5k (97.5%)

Babangida April 10, 1988: 39.5k to 42k (6.33%)

Babangida January 1, 1989: 42k to 60k Private vehicles.

Babangida December 19, 1989: moved to uniform price of 60k (42.86%)

Babangida March 6, 1991: 60k to 70k (16.67%)

Shonekan November 8, 1993: 70k to N5 (614%)

Abacha November 22, 1993: petrol price drops from N5 to N3.25k (-35%)

Abacha October 2, 1994: N3.25k to N15 (361.54%)
Abacha October 4, 1994: Price drops from N15 to N11 (-26.67%)

Abubakar December 20, 1998: N11 to N25 (127.27%)

Abubakar January 6, 1999: N25 to N20 (-20%)

Obasanjo June 1, 2000: N20 to N30 (50%)

Obasanjo June 8, 2000: petrol price reduced to N22 (-10%)

Obasanjo January 1, 2002: N22 to N26 (18.18%)

Obasanjo June to October, 2003: N26 to N42 (23.08%)

Obasanjo May 29, 2004: N50 (19.05%)

Obasanjo August 25, 2004: N65 (30%)

Obasanjo May 27, 2007: N75 (15.38%)

Yar'Adua June 2007: N65 (-15.38%)

Jonathan January 1, 2012: N141

Jonathan January 17, 2012: N97

Jonathan 2015: N87

Note

BUHARI is the only Nigerian leader from Gowon's regime, who never touched price of fuel.

YAR'ADUA Was the only leader who did not increase, rather he reduced petrol price from N75 to N65.

BUHARI Year 2015: ? ? ? N97? N120? N150? N200? N400?

BUHARI May 11, 2016: N145

cc lalasticlala

hmmmm

BUHARI Year 2015: ? ? ? N97? N120? N150? N200? N400?

Buhari won hands down, the dullard keeps winning the wrong competition.

Mogidi:


Buhari won hands down, the dullard keeps winning the wrong competition.

hmmm we can't just conclude, even though the Buhari of 1983 may not be the same as the one of 2015.

Am suspecting this fuel hikes is how our rulers make their own personal money

Check Babangida and Obasanjo as case study

Naija needs more prayers, than France .

So we get all dz unsolved problem, na im one person dey tell me say make I pray for parish paris....
I would rather pray in the spirits fr Nigeria...#speakintonguesforNigeria

Brymo:
Naija needs more prayers, than France .

Abi o, God bless you jare.
Imagine just 127 death toll and the whole world is praying, and even that yeye Facebook is making we Nigerians and the world to change their dps laced with the flag of France, when we Nigeria is near or more than 10,000 Ten thousand death toll, thanks to Boko haram, sign... Nigerians also needs prayers not just for the country but we the people too

With NLC lossing in on with the called industrial action, i guess the N145 PMS pump price remains and its here to stay, NLC failed woofully in this fight, sadly FG wassn't even interested to revert or reduce from the said amount in the first place, more sad news, the BRENT and OPEC basket barrel price is also increasing by the day, which means the fuel price would soon increase to a further higher price.

Nigerians brace yourself